Proof of Play’s Apex and Boss networks were once two of the largest gas consumers tracked across the entire Ethereum rollup ecosystem, recording high levels of activity daily. Today, the blockchain game studio backed by funding from a16z (Andreessen Horowitz) officially announced the cessation of all its operations.
The main reason for this shutdown stems from the team’s inability to build a long-lasting business. They openly stated that they were unable to develop products that could prove the industry’s initial thesis: that blockchain-based games can truly help realize a decentralized internet at scale.
Legacy Opened to the Public
As a parting step, Proof of Play chose to make almost all of their legacy free. Most of the code and artwork they built with substantial capital has now transitioned to open-source. This decision includes the release of the complete code for the game Pirate Nation, a collection of smart contracts, and various internal developer software they had previously kept secret.
To ensure its visual assets can be used freely by the community, the artwork and intellectual property associated with Founder Pirates NFTs and Pirate Nation are now fully released under a CC0 license. This means all the artwork is dedicated to the public domain, allowing anyone to use or modify it without any further copyright legal barriers.
The Fate of the PIRATE Token and Player Points
Although the studio is disbanding, the game is not being left to die. The Pirate Nation Foundation, an independent governing foundation, has taken over the responsibility to continue supporting the viability of the PIRATE token while keeping the main website online for players to access.
However, direct losses still impact its loyal players. All Proof of Play points collected through the game have been officially declared void. The developers emphasized that the accumulated points can no longer be exchanged for crypto tokens or any other items.
Amid this downfall, at least one title was saved by changing hands. A game called Shiba Story Go! was recently purchased by an undisclosed third party. This new buyer will take the reins of development and ensure it continues to operate independently, regardless of the collapse of the Proof of Play entity.
Symptoms of a Broader Trend
The closure of Proof of Play comes just as a downturn begins to pressure the Web3 gaming industry once again. Recently, another veteran name, Yield Guild Games, also made a similar decision by cutting 35 staff members from their ranks.
More than just reducing headcount, Yield Guild Games even closed its game publishing division to shift its focus to artificial intelligence technology. This series of events shows a real lesson for the crypto ecosystem: having major funding from top-tier investors at the start of a project will never be able to save a game ecosystem that ultimately fails to look after its players’ wallets.
As reported by Cointelegraph.
Read also: What Is an NFT and How Does It Work?
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
